System for electronic barter, trading and redeeming points accumulated in frequent use reward programs

ABSTRACT

A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of reward points issuing entities, each of the reward points issuing entities tracking the user&#39;s earned reward points in a user reward point account stored on a rewards server. A trading server accumulates the user&#39;s earned reward points from each of the reward servers interconnected over a network in association with consideration provided by the reward servers to the trading server and credits the accumulated points into a reward exchange account associated with the user. The user may then select an item for purchase from a merchant computer interconnected to the network. The merchant computer provides the item to the user in exchange for consideration received from said trading server, and the trading server reduces the number of points in the user&#39;s reward exchange account in accordance with the consideration provided to the merchant computer.

CROSS-REFERENCE TO OTHER APPLICATIONS

This application is based on and claims filing priority of co-pendingU.S. provisional patent application Ser. No. 60/140,603, filed on Jun.23, 1999.

BACKGROUND OF THE INVENTION

The present invention relates to electronic bartering systems that allowusers to trade or redeem reward points, such as those alreadyaccumulated in airline frequent flyer programs, into an account forredeeming products and services offered over the Internet. This wouldallow users to use their frequent flyer (or frequent car rental,frequent dining, etc.) points for products or services other than thosetypically offered by the point sponsor. The points would be sold back tothe airline (or other type of issuing entity). The system would alsoallow for purchase by users of points traded in by other users, suchthat points are redistributed without incurring a transaction directlywith the airline or other issuing entity. The system also allows formanufacturers and producers of goods to put overstocked or discontinued,end of run products into a liquidation process that can be exchanged forpoints.

In order to attract and retain business customers, airlines, hotels, carrental companies, chain retailers, telecom providers, etc. havehistorically introduced frequent use programs that offer awards of“frequent flyer miles” or other such incentives schemes based on thedistance traveled or use by that customer. Competition has forcedairlines to modify the manner in which mileage was acquired to includetravel related purchases by consumers. For example, the dollar-basedcost of a ticket purchased may be awarded as mileage to a clientaccount. Within the past several years, credit card companies or otherretailers and etailers have co-branded credit cards in the name of theairlines and the credit card company where each dollar spent using thecard is recorded as a mile of travel or point in the award program.These cards may additionally award bonus miles in coordination with userpurchases of preferred products or flights during preferred times.

U.S. Pat. No. 5,774,870, FULLY INTEGRATED, ON-LINE INTERACTIVE FREQUENCYAND AWARD REDEMPTION PROGRAM, issued to Netcentives, Inc. on Jun. 30,1998. The '870 patent provides a system whereby the user can makepurchase of products over the Internet and receive award points, whichare stored in an associated database. The user can subsequently view anaward catalog to determine which awards he may be able to redeem basedon the number of points in his account. This patent does not teach,however, the ability of a user to trade-in his points accumulated in apre-existing frequent flyer account in order to make purchases ofproducts from the award catalog or allow the points to be pooled withother programs in order to gain further purchasing power.

The ClickRewards program site appears to operate in the same fashion asthat described in the '870 patent; i.e. it allows users to gain points(called “ClickMiles”) for making an online purchase of a product throughan associated web site. For example, ClickMiles may be awarded for apurchase of Gap products at the Gap web site. The ClickMiles canultimately be redeemed for frequent flyer miles, for example at one ofseveral major airlines. Another web site, www.webflyer.com, isassociated with ClickRewards and provides ClickMiles for purchasingfrequent flyer-related goods, such as guidebooks.

The ClickMiles Reward Catalog allows the user to redeem the ClickMilesfor merchandise in the alternative to frequent flyer miles. For example,a CD can be obtained from CDNow by redeeming 900 ClickMiles.

Although the ClickRewards program allows a user to redeem accumulatedpoints for obtaining merchandise over the Internet, it does not allowfor the redemption of frequent flyer miles from a pre-existing accountto be traded for reward points.

U.S. Pat. No. 5,794,210, ATTENTION BROKERAGE, issued on Aug. 11, 1998 toCyberGold, Inc. The '210 patent describes a system that makes immediatepayment to a user for paying attention to an advertisement or other“negatively priced” information distributed over the Internet. A specialicon or other symbol displayed on a computer screen may representcompensation and allow users to choose whether they will view an ad orother negatively priced information and receive associated compensation.The points accumulated can then be used to purchase “positively pricedinformation” or products.

The CyberGold web site, www.cybergold.com, describes an “earn and spend”community in which users earn “cash” online, for example by visiting aportal site. The earnings can then be used to make online purchases,such as software.

Again, although the '210 patent and the CyberGold web site describe anincentive system that allows users to purchase products or services overthe Internet, neither teaches the ability of the redeeming frequentflyer miles from a pre-existing account for reward points.

U.S. Pat. No. 5,025,372, SYSTEM AND METHOD FOR ADMINISTRATION OFINCENTIVE AWARD PROGRAM THROUGH USE OF CREDIT, issued on Jun. 18, 1991to Meridian Enterprises, Inc. The '372 patent describes an incentiveaward program in which credit is awarded to participants based on theparticipant meeting a designated level of performance under the system.This patent does not teach the ability to increase the reward points ina user's account by redeeming points from a pre-existing account such asa frequent flyer mileage program.

With regard to FIG. 1, a model of the frequent flyer systems of theprior art is presented. Two different airlines servers are shownsurrounded by their related marketing partners. In order to lure morebusiness travelers, the airlines have established marketing agreementswith travel related companies to provide the business traveler with amore robust way to generate rewards in the form or frequent flyer miles.These marketing arrangements or associations have typically involvedcredit card companies, phone companies, hotel chains and car rentalcompanies. Any purchases made through these “co-branded” partners werethen awarded to the user periodically. Bonus miles or points mayadditionally be accumulated based on the user's actions in response tooffers made by the airline or in coordination with the partner company.For example, phone companies offer bonus miles to users based on theuser's agreement to change phone service. These points are obtained bythe partner companies by purchasing them from the issuing entity forredistribution as an incentive to utilize their particular goods and/orservices. FIG. 2 shows some sample co-branded cards that arerepresentative of marketing agreements between TWA, Sprint, andMastercard. In order to receive these benefits, the user must sign upwith each of the partner companies separately and provide the frequentflyer account number that is to receive the credited miles. A usereither making phone calls or purchases in accordance with the agreementsmade with each of these partners will first accumulate a value on thepartner's system which in turn is periodically updated on the airlineserver to reflect the value earned during that period. FIG. 3 isrepresentative of a typical user account that shows various earnings inthe system transferred in from any of the co-branded partners. Therecords of the table in FIG. 3 identify the source of the rewards, thedates they were recorded and the number of miles associated with thattransaction. The user can view the accumulated miles by accessing theairline server or by tracking the individual value reported to the userthrough the various bills the user receives from each of the co-brandedpartners.

The prior art does not provide for a consumer to utilize relativelysmall amounts of reward points in any manner. In addition, a consumeroften can only redeem points in an airline-related manner (i.e. toobtain a free ticket or upgrade from coach to first class). This priorart does not recognize the need for a consumer to exchange reward pointsfor non-travel related goods, and in particular renders relatively smallnumbers of points useless. For example, a consumer that does not traveloften may have 500 points in United Airlines, 700 points in USAir, and1000 points in TWA, each of which is relatively useless in the priorart.

What is desired therefore, is a system where users may submit frequentflyer awards or credits accumulated for other types of transactions forredemption or translation into a form readily acceptable by aparticipating merchant. An exchange rate will be established for therelative consideration received by the companies involved in thetransaction. A user should be able to pool the various earned rewardsthat may exist in currently separate server systems where the resultingcombined value may be used by a user of the system to acquire items ofequivalent value. In another embodiment, the award program looking toreduce frequent flyer liabilities may contact users and arrange for atransfer of the reward miles into a value (which may be predetermined)to be credited to the trading system reward. Alternatively, the pointsmay be bid for in an auction environment where points may be used to bidfor certain awards. A user who has earned frequent flyer miles orrewards on several sites insufficient to receive any direct value fortheir mileage may be able to pool the miles acquired from severaldifferent air carriers to transfer the awards accumulated to the systemof this invention. The user may have the selected items delivered to theuser by performing a purchase request by various means such as over theInternet, dialing a toll free number for placing an order, or any othermeans of placing an order that will accept payment from this system.

SUMMARY OF THE INVENTION

This invention allows a user to purchase goods or services usingaccumulated award points held by a variety of award programs. A frequentflyer program is typical of the systems to be encompassed by thisinvention. Tie-in promotions have been introduced over the past severalyears that have allowed purchases for goods and services such as hotelor car rentals to accumulate award miles that are then recorded on theairline award system. More recently credit card companies offer cardswhere a mile award is made for every dollar spent using that creditcard. These cards may additionally award bonus miles in coordinationwith user purchases of preferred products.

A system and method are disclosed where the system allows the user toredeem the accumulated reward points from a plurality of reward entitiesfor exchange with a merchant. The user requests process for redemptionof the pre-accumulated reward points comprises the steps of the userrequesting, via a user computer, a trading server computer to obtainreward points from a reward server associated with a rewarding entitywith which the user has reward points. The reward server computerdecreases the users reward account by the requested number of rewardpoints. The reward server computer conveys consideration to the tradingserver computer, where the consideration corresponds to the number ofreward points decreased in the account of the reward server. The tradingserver computer increases the reward exchange account on the tradingserver associated with the user by the requested number of points. Thetrading server receives the consideration from the reward servercomputer. Following or anticipating this conversion into the tradingserver, the user requests a purchase of an item from an associatedmerchant computer by selecting the item to be purchased from a pluralityof available items. The trading server computer confirms that the user'sreward exchange account contains sufficient points to purchase theselected item. The user may purchase additional points in the event thathis account does not contain the requisite number of points for makingthe purchase transaction. The trading server computer requests themerchant computer to deliver the item to the user. The trading serverdecreases the user exchange account by the number of pointscorresponding to the purchased item and the trading server computerconveys consideration to the merchant computer equivalent to therequired points. In another embodiment, the user may redeem rewards atthe reward server following the selection of an item to be acquired.Policies may be established to automatically contact each of the rewardservers according to a user procurement profile to transact the requiredpayment. This profile may indicate the order of redemption and method ofproviding funds sufficient to cover the purchase after redeemable pointsare exhausted. After redemption the consideration is transferred to therespective merchant.

BRIEF DESCRIPTION OF THE DRAWING

FIG. 1 is representative of the prior art marketing arrangements used inreward programs;

FIG. 2 is a representation of the co-branded partners in a prior artaward program;

FIG. 3. is a sample of the prior art reward summary from an airlinefrequent flyer system;

FIG. 4 is a block diagram of the components of the present invention;

FIG. 5 is a block diagram of the system components of the presentinvention;

FIG. 6 is a data flow diagram of the process for a user to redeemrewards;

FIG. 7 is a data flow diagram of the user request for purchase of anitem at a merchant site;

FIG. 8 is a data flow diagram of the user account creation process onthe trading server;

FIG. 9 is a data flow diagram of the offer process by a reward programor by a merchant;

FIG. 10 is a data flow diagram of the process where a user may beredirected from a reward program to the trading server of the presentinvention.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENT

With reference to FIG. 4, a plurality of reward server computers 10, 12,14, a trading server 20, a merchant computer 30 and a user computer 40are shown in communication with a network 40. The network may compriseany type of communication process where computers may contact eachother. The present invention will be described with respect to anInternet-based network where the reward server computer 10 is associatedwith an airline frequent flyer program. Any type of reward server mayalso be used in this system. The reward server computer may be a creditcard reward program such as offered by American Express where the userearns rewards based on purchases or an advertising based award programwhere the user earns rewards by selecting advertising content.

A user of this system may acquire and accumulate rewards through anyprior art means such as shown on FIG. 1, which are then posted in auser's reward account 52 that is accessible through the reward servercomputer 10. The trading server computer 20 is in communication throughthe network 2 with a user on a user computer 40 and is additionally ableto connect to the reward server computers 10,12,14 through the network 2in accordance with techniques well known in the art for Internetcommunications. The merchant computer 30 is representative of any sitethat can communicate with the network that has goods or services forsale or trade. The merchant may have a direct relationship with thetrading server where the direct relationship allows for a streamlinedprocess for allowing a user to acquire products offered via the merchantcomputer. Alternatively, the merchant computer may be an independentmerchant that does not currently have a profile defined in the tradingserver that will accept payment from another computer system in any oneof well known e-commerce embodiments.

The rewarding entities may be any type of entity that has a service forallocating points or consideration for user actions. The reward servercomputers 10,12,14 may be of any type of accessible server capable ofholding data about a user along with a corresponding earned value thatis negotiable for other goods, services, or points of another system. Inthe preferred embodiment, the airline reward server computer 10 mayrefer to one or several different airlines that have frequent flyerprograms or the like. The credit card reward server computer 12 mayrefer to any type and number of credit card server systems capable ofholding, increasing or decreasing a user's earned rewards acquiredaccording to the terms of the credit card program to which the user hasenrolled. The marketing reward server computer 14 may refer to one or amultitude of network accessible marketing systems that allow a user tohave an account where points or other redeemable value may be stored,updated and redeemed by a user. The trading server computer may be anytype of computer system that allows users to access the system in orderto perform the processes involved in this invention. In the preferredembodiment all of the systems described are accessible through theInternet and the user may freely navigate to any site by means wellknown in the art.

The present invention allows issuers who originally sold reward pointsin their program for use as an incentive by third parties to repurchasepoints at a substantial discount, thereby reducing their liability andallowing for a trading strategy that enables points to continually besold and repurchased. This may be a separate accounting procedure thanwhat is used for points that are granted.

The method of allowing the user to redeem the accumulated reward pointsfrom one or more of a plurality of reward entities will now be describedwith respect to FIG. 4 and the data flow diagram of FIG. 6. The tradingserver system would allow users to “log in” to access the functionalityprovided where the user may interact with applications, forms orcontrols. For example, the user may view his account information byusing a web browser to enter the appropriate identification informationand then select buttons, links or other selectable objects to navigateto the part of the system desired. The user, from the user computer,makes a request to the trading server computer 20 at step 102,requesting redemption through the network 2 for a portion of thepre-accumulated reward points stored for the user in one of therewarding entities. A user reward account 52 is associated with each ofthe reward servers but is only shown in FIG. 4 connected to the airlineserver for sake of clarity. The user may interactively select rewards tobe redeemed, or the system may determine which rewards are to beredeemed based on a previously defined user profile rule. The tradingserver computer 20 “obtains” the reward points from a reward server 10,12, 14 stored in the user's account 52 by contacting the appropriatereward server at step 110 according to the user's requirements, by usingthe connection parameters as defined in a database 54 on the tradingserver as shown in FIG. 5. In one embodiment, the trading serverretrieves reward account balance information at step 114 from the rewardserver for the user. In another embodiment, the trading server transfersas part of the communication 110, the requested reward mileage to beredeemed. The reward server computer 10 decreases the users rewardaccount 52 by the requested number of reward points. The term point isused to reference any earned value that has a cash equivalent ornegotiable worth as in “frequent flyer” point or mile. The reward servercomputer 10 conveys consideration to the trading server computer 20where the consideration corresponds to the number of reward pointsdecreased in the user's account 52 on the reward server 10. For example,the consideration may be in the form of a monetary credit to an accountthat exists between the trading server and the reward server, that getspaid at the end of a predefined billing cycle (i.e. every month). Thetrading server computer 20 increases the reward exchange account 54associated with the user by the received number of points. The tradingserver computer 20 in turn, receives the consideration from the rewardserver computer 10.

In the second part of the transaction (see FIG. 7), the user from a usercomputer 40 may make a request 150 to purchase an item from anassociated merchant computer 30. In the preferred embodiment, themerchant computer system will be a networked computer system accessiblevia the Internet. The user would visit the site by selecting on a linkfrom the trading server's web site or by entering the name or address ofthe destination site. The user may identify one or many items to beacquired from one or several merchants 30. The trading server computer20 would confirm that the user has sufficient points to purchase theselected item by checking the user's reward exchange account 54. Thetrading server computer 20 would request the merchant computer todeliver the item to the user. The user delivery information may beretrieved from the trading server computer 20 or may be supplied in someother manner. The trading server computer 20 would decrease the userexchange account 54 by the number of points corresponding to thepurchased item. The trading server computer 20 conveys consideration tothe merchant computer 30 equivalent to the cost of the item by meanswell known in the art of electronic commerce (eg. by a preexistingaccount, credit card, etc.) In the alternative, the consideration may bea direct transfer of points to an account associated with the merchant.

Policies and profiles may be established to automatically contact eachof the reward servers according to a user redemption profile (see FIG.5) to transact the required payment for an item selected by a user. Thisprofile may indicate the order of redemption and method of providingfunds sufficient to cover the purchase after redeemable points areexhausted. For example, if a user has a preferred air carrier where theuser would like to retain mileage in that reward system, the user mayspecify a priority of use indicating the reward resources that should beexhausted prior to accessing the most desirable rewards. Following theselection of an item to be acquired, the server may contact all of thereward resources according to this profile to selectively redeem each asrequired to meet the purchase price. The process may be performed inreal time or as a background process where the user may select how thetransaction should proceed. If the user exhausts lower personal worthresources from the reward servers, the system may be required to contactthe user before the transaction is allowed to proceed to redeem points.A classification system may also be used to indicate rewards of similarworth. If for instance, a frequent flyer program supports multipleclassifications of miles that may be redeemed differently, the user mayoptionally define how those resources should be managed duringredemption. The redemption process would then honor those rules electedby the user to select from several different reward programs instead ofredeeming rewards strictly on a value required from the first rewardprogram contacted.

FIG. 8 describes the process steps involved in enrolling a user toutilize the trader server. The data entered by the user may be used indetermining whether a user allows unsolicited offers to be presentedfrom the trading server. The user's preferences for manufactured goodsservices, products, travel destinations, hobbies, interests or any otheruser entered criteria may be stored in the database for subsequent useby the system. The trading server has the ability to receive offers fromreward servers or merchants which may then be directed to users based onthe database profile information provided by the user (see FIG. 9).

The trading server may also be contacted in response to a button orhyperlink located on a web page accessible by the user from the airlinereward server. In a similar manner, hyperlinks or calling routines mayallow a user to access a reservations system or merchant from thetrading server. The link would direct the user to partner or associatedair carriers where the points in a user exchange account on the tradingserver 20 may be used to acquire reduced fare flights.

The system used to implement the aforementioned method will now bedisclosed with respect to FIG. 5. The system is comprised of a tradingserver computer connected to a network of computers where a userinterface is established whereby a user from a user computer may accessthe server to request the transaction to contact a reward servercomputer system. In the preferred embodiment, the server has memorymeans for storing the user account information, user profiles and rulesspecified by the user, system, or merchant. The trading server also hascommunications means to allow users to access the server and to allowthe trading server to contact reward servers and processing means tointerpret the rules and coordinate the contact to the respective rewardservers. The processing means is adapted to allow the user to requestand exchange consideration for rewards from reward servers. Theprocessing means additionally is adapted to coordinate the exchange ofconsideration and increase or decrease the user exchange accounts storedin memory in response to actions performed by the user computer, rewardserver and merchants.

In the preferred embodiment, the memory means comprises a databasestructure that is used to record the transactions associated with thepreviously described method. Records indicating the changes and currentvalue of user exchange accounts are updated according to the requestprocessed by the processor.

In response to a request for redemption, the trading server looks up thecontact properties of the reward server to be contacted. The userinformation is submitted to the reward server to display the availablepoints that may be redeemed. In another embodiment, the requestadditionally contains a value to be redeemed. The processor establishesa communication link with the reward server and a transaction request issent to the processor of the reward server. The processor of the rewardserver may perform actions that may allow or refuse the requestedaction. In another embodiment, the trading server processor may begranted direct authorization to modify the user's records in the rewardserver database without analysis by the processor of the reward server.A conversion rate may be applied to the transaction such that the rewardserver reduces the available rewards in the user's account. The rewardserver then transfers consideration to the trading server thatcorresponds to the value reduced in the reward system. In response tothe receipt of the transfer or approval of the transfer, the tradingserver increments the user account balance to reflect the receivedconsideration and the connection to the reward server is dropped. Atransaction log may be used to record each of the transactions in case areconciliation process is required at a later time. The increase in theuser's exchange account may then be stored until a user finds an item tobe purchased.

The user selects the desired object from the merchants by indicating thetype of product or service to be procured. In one embodiment, thetrading server contacts the merchant server to return to the user a listof products that match the user's search criteria or if the user hadspecified in detail what was desired, the product may be directlyacquired from a merchant. A communication link is established betweenthe trading server and the merchant computer or designee for e-commerce.Direct acquisition may be enacted by contacting the merchant computerand supplying the user indicia, the product indicia, and the redemptionvalue sufficient to secure the transaction. In response to thetransaction request, the merchant computer will receive theconsideration supplied and contract for the delivery of the product. Inanother embodiment, the consideration required for the item selected issent to the trading server where based on the available points in theuser's exchange account the trading server will determine whether theconsideration is available. An authorization process may be incorporatedat this point to request authorization from the user or in a moresimplified process, the consideration will be transferred to themerchant computer and the user's exchange account will be reduced. Themerchant computer will receive the consideration and will effectuate adelivery transaction to be issued.

The goods may also be placed under direct control of a distribution armof the trading service so that the user places the order with thetrading service directly and the merchants are not directly involvedwith the sale of the goods.

Thus, the present invention provides a liability management system forissuers of reward points, which allows them to take points off the booksand eliminate them, if desired, at a discount rate. This system enablesthe sale or repurchase of points with a trading strategy in which pointsneed not expire.

The present system may be implemented by means of a smart card whereinfrequent use points may be accumulated on the user's card every time thecard is used for associated application. For example, if a user uses hissmart card to pay for a hotel that normally gives reward points, thosereward points may be stored on the smart card. Likewise, when the cardis used for the purchase of an airline ticket, the points would be addedto the smart card. The user may then redeem the accumulated rewardpoints by inserting the card into a vender associated with a computerconnected to the Internet. The trading process proceeds as describedabove, except that the points are obtained directly from the smartrather than a reward server.

The user may have a credit card, debit card, or stored value card thatis linked to their points account in such a way as to permit them to payfor purchases with a merchant by using the card, wherein the merchantuses the existing credit card payment infrastructure as if payment werebeing made/authorized by a bank linked to the credit card or debit cardaccount, but in fact the card is linked to the user's points account. Inthis manner, the user and merchant can use the points account to pay forpurchases in a seamless manner whereby points are used for considerationrather than or as a supplement to cash and traditional credit.

Other aspects of this invention will now be disclosed that will enhancethe reader's understanding of the application of this invention.

The user can purchase points from the system, borrow points from thesystem, etc., and basically treat the points as cash consideration forpurposes of such transactions.

The system can prioritize the order of points being traded based on apredetermined set of rules such as in higher value points being issuedbefore those with a lower value.

Merchandisers also benefit from the use of this system where anothermarketing channel is afforded for products that are often purchased byfrequent travelers with high disposable income. Products and servicesencompassing jewelry, flowers, limousine transport, timeshare rental maybe exchangeable for points stored in this system. Items purchasedthrough the system may also be paid for by a combination of points andcurrency which might be the case when a user does not have enoughaccrued points to meet the purchase consideration of an item selected.

It is anticipated that high quality limited access products may benefitfrom the distribution methods afforded by this system. For example,companies like DeBeers and Chanel may take advantage of thisdistribution means without impacting the level of quality or excellenceassociated with their products.

Manufacturers can discount or liquidate goods for points in a mannerthat doesn't negatively affect the perceived value of the goods (i.e.not in direct competition with the mainstream sales). That is, themanufacturer can place overstocked, end of run type goods and the like,place them in the chain of distribution for exchange with points, andnot be in direct competition with cash sales of its mainstream products.

Resort destinations that are managed by property management companiessuch as RCI may be integrated into this system where instead of tradingaccommodations with only those having similar property, it is nowpossible that the rental of the property may be achieved by conversionfor points.

Offers may be distributed to users of this system where substantialrebates or reduced rates are described in the offer. Time sensitiveproduct offerings can also be accommodated in the system where the valueof the product is decreased according to a life span of the product.Time sensitive product offerings such as food products or concerttickets can have an associated diminishing or escalating value based onthe length of the offer.

Using this system it is now possible to coordinate the products ofseveral different providers into one package. A user of this system maytherefore select an airline, hotel, car rental and Broadway show ticketsin New York, individually or in a prepared package from one location bytrading points where the package may not have existed before where thetrading system coordinates all aspect of the transaction and reduces theuser's exchange rewards in a corresponding manner.

Other purchasing leverage not specifically addressed previously may alsobe acquired by combining the power of a pool of high profile users ofthis system where these users may be allocated access to products orservices not generally distributed to the remainder of the system users.Points collected in the system by these users may afford them access tolimited distribution channels where higher discount levels or premiumluxury products may be acquired. Direct access to cartel products suchas diamonds, duty free items and other restricted access product orservice offerings are also accommodated through the coordination of thetrading server with these specialized service and product providers. Forexample, a preferred client distribution channel such as found in aEuropean market for luxury goods would be made available to users ofthis system where the prices for the objects in this preferred channelmay be significantly lower than retail for objects that are typicallyreserved for limited distribution at premium prices. The trading servermay additionally have exclusive rights to allocate access to certainpremium products, services, events, travel destinations oraccommodations in accordance with any right or grant permitting suchallocation to any user of the system. A distribution channel may makeavailable exclusive products for all or a limited amount of the membersof the system where the trading server system controls access to theoffer. Parameters associated with the available quantity, duration,exchange rates, etc may be input into the system to be used in theallocation algorithm to restrict the offer. Upon user access, thetrading server would, in these cases, modify the premiums offered toreflect the immediately attainable items for the current user and mayadditionally display or provide access to premiums that may be acquiredthrough payment by other means (i.e. cash, charge, debit) to make up thedifference between the user's available points and the points requiredto accept the offer.

In another embodiment of this invention, airlines seeking to providehigher levels of personalized service for their business travelers willprovide access to the Internet or access to in-flight services such asvideo games, for a fee or in place of granting mileage rewards ontranscontinental or transatlantic flights. Access to video games may beafforded to the traveler where the availability of different gamesdepends on the number of reward points traded in by the traveler. Therewards may be converted using the trading server of this invention,where the user may opt to forego collecting mileage in return foraccessing on-board entertainment provided in a standalone mode or in alinked mode. For example, users may select to play video games, accessthe Internet or utilize Email via a seatback or tray table mountedinterface and controller. The user may optionally connect a laptopcomputer to an interface port of the aircraft using an Ethernet,parallel, USB connection or proprietary connector provided by the aircarrier. In the preferred embodiment, the user would select theconnection speed and type for communications based on whether in-flightor external services were to be accessed. Other types of businessservices may additionally be used and accounted for, such as usingnetwork printers or fax equipment. RF, satellite or microwave basedcommunications may be used for real time communications where sufficientgeographical coverage is provided.

The interface would allow a user to login using the frequent flyeraccount information or preferably, the trading server account login idand password, where the user may use points awarded from another aircarrier or point server to “pay” for the services accessed. The accountbalance from the trading server may be transferred to the localcontroller prior to takeoff for each user that logs in to the tradingserver. Once the plane has departed, depending on the linking or accesscapability afforded by the air carrier or service provider, the user'saccount may be modified in real time or upon reconnection followinglanding, based on services selected by the traveler. If a real time linkis supported, the user's exchange account may be periodically debitedaccording to the services selected and duration of use.

In another aspect of the invention, an electronic bartering system isimplemented, wherein product manufacturers, producers, distributors,etc. can provide surplus or overstocked goods for liquidation into thechain of supply of the system and exchange then for points as describedherein. This provides an inventory management and liquidation system forthese manufacturers and sellers.

In addition, the value of the reward points may fluctuate as a functionof the company's performance, which may be measured by reference to theprice of its stock, revenue, earnings, or some other parameter that isagreed to that reflects the relative performance of the company. In thismanner, companies that perform well would provide an additionalincentive to a user for using their frequent use program rather than acompetitor's program. For example, all other parameters being the same,a user would likely choose the Acme credit card company over the Betacredit card company when the user determines that the Acme companyperformance results in a 10% increase in the number of points otherwiseearned by using its credit card. The value may also fluctuate as afunction of the number of points outstanding or the desirability of theissuer to reduce its liability or make it more robust.

1-29. (canceled)
 30. A method of operating a reward accumulation andredemption program comprising the steps of: a) earning rewards from eachof a plurality of different rewards issuers, each of said reward issuerstracking the earned rewards; b) selecting an item for purchase from amerchant with a combination of earned rewards; c) designating at leastsome of said earned rewards from said reward issuers for redemption forsaid item selected for purchase, and e) combining the designated earnedrewards for redemption for said item selected for purchase.
 31. Themethod of claim 30 wherein each of said designated rewards are combinedfor redemption at a predetermined rate of exchange.
 32. The method ofclaim 30 wherein at least a portion of said rewards are earned based ona transaction with a merchant.
 33. The method of claim 30 wherein atleast a portion of said rewards are earned based on a credit cardtransaction.
 34. The method of claim 33 wherein the credit cardtransaction earns rewards based on a monetary value of the credit cardtransaction.
 35. The method of claim 30 wherein at least a portion ofsaid rewards are earned based on a transaction with an airline.
 36. Themethod of claim 35 wherein the transaction with an airline earns rewardsin the form of frequent flyer points based on an airline trip.
 37. Themethod of claim 30 in which the step of selecting an item for purchasefrom a merchant with a combination of earned rewards is executed via aweb site accessed over a networked computer system.
 38. The method ofclaim 30 in which the step of designating at least some of said earnedrewards from said reward issuers for redemption for said item selectedfor purchase is executed via a web site accessed over a networkedcomputer system.
 39. The method of claim 30 in which the step ofcombining the designated earned rewards for redemption for said itemselected for purchase is executed via a web site accessed over anetworked computer system.
 40. The method of claim 30 in which the stepof designating at least some of said earned rewards from said rewardissuers for redemption for said item selected for purchase is executedvia a user-accessible computing device operatively associated with saidreward issuers.
 41. The method of claim 30 in which the step ofcombining the designated earned rewards for redemption for said itemselected for purchase is executed via a user-accessible computing deviceoperatively associated with said reward issuers.
 42. The method of claim30 wherein the transaction further comprises the steps of presenting acard to the merchant, wherein the card is associated with at least oneof said rewards issuers, and using the card to access the rewardsdesignated for redemption for said item selected for purchase.
 43. Themethod of claim 42 wherein the card is a credit card.
 44. The method ofclaim 42 wherein the card is a debit card.
 45. The method of claim 42wherein the card is a stored value card.
 46. The method of claim 42wherein the card is a smart card.
 47. The method of claim 42 furthercomprising the step of using a credit card infrastructure with the cardto access the rewards designated for redemption for said item selectedfor purchase.
 48. The method of claim 30 further comprising the step ofeach reward issuer providing consideration to the merchant in exchangefor the merchant combining the designated earned rewards for redemptionfor said item selected for purchase.
 49. The method of claim 30 whereinthe step of designating at least some of said earned rewards from saidreward issuers for redemption for said item selected for purchase isperformed by operating a user-accessible computing device interconnectedto the credit card infrastructure.
 50. The method of claim 30 wherein apurchase price associated with the item for purchase exceeds a combinedvalue of the rewards that are designated for redemption to purchase theproduct, and wherein the user provides additional consideration toenable the purchase of the selected product.
 51. A reward accumulationand redemption system comprising: means, associated a plurality ofrewards issuers, for tracking earned rewards; means for enablingselection of an item for purchase from a merchant with a combination ofearned rewards; means for designating at least some of said earnedrewards from said reward issuers for redemption for said item selectedfor purchase, and means for combining the designated earned rewards forredemption for said item selected for purchase.
 52. The system of claim51 wherein each of said designated rewards are combined for redemptionat a predetermined rate of exchange.
 53. The system of claim 52 whereinat least a portion of said rewards are earned based on a transactionwith a merchant.
 54. The system of claim 51 wherein at least a portionof said rewards are earned based on a credit card transaction.
 55. Thesystem of claim 54 wherein the credit card transaction earns rewardsbased on a monetary value of the credit card transaction.
 56. The systemof claim 51 wherein at least a portion of said rewards are earned basedon a transaction with an airline.
 57. The system of claim 56 wherein thetransaction with an airline earns rewards in the form of frequent flyerpoints based on an airline trip.
 58. The system of claim 51 in which themeans for enabling selection of an item for purchase from a merchantwith a combination of earned rewards comprises a computing devicehosting a web site accessible over a networked computer system.
 59. Thesystem of claim 51 in which the means for designating at least some ofsaid earned rewards from said reward issuers for redemption for saiditem selected for purchase comprises a computing device hosting a website accessible over a networked computer system.
 60. The system ofclaim 51 in which the means for combining the designated earned rewardsfor redemption for said item selected for purchase comprises a computingdevice hosting a web site accessible over a networked computer system.61. The system of claim 51 in which the means for designating at leastsome of said earned rewards from said reward issuers for redemption forsaid item selected for purchase comprises a user-accessible computingdevice operatively associated with said reward issuers.
 62. The systemof claim 51 in which the means for combining the designated earnedrewards for redemption for said item selected for purchase comprises auser-accessible computing device operatively associated with said rewardissuers.
 63. The system of claim 51 further comprising means forenabling a card presented to the merchant to be used the card to accessthe rewards designated for redemption for said item selected forpurchase, said card associated with at least one of said rewardsissuers.
 64. The system of claim 63 wherein the card is a credit card.65. The system of claim 63 wherein the card is a debit card.
 66. Thesystem of claim 63 wherein the card is a stored value card.
 67. Thesystem of claim 63 wherein the card is a smart card.
 68. The system ofclaim 63 further comprising means for accessing a credit cardinfrastructure with the card to access the rewards designated forredemption for said item selected for purchase. 69-84. (canceled)
 85. Amethod of managing rewards comprising the steps of: a) establishing areward account directly with each of at least two reward issuingentities, wherein each of said reward accounts is stored on a rewardserver associated with the reward issuing entity, and wherein each ofsaid reward accounts tracks rewards earned by the user for transactionsbetween the user and the associated reward issuing entity, and whereineach of the reward issuing entities enables the user to redeem rewardsfrom the reward account associated with the user for an item selected bythe user, b) earning rewards from each of the reward issuing entities,each of said reward issuing entities tracking the user's earned rewardsin the user's reward account stored on the reward server associated withthe reward issuing entity, c) designating at least some of said rewardsfrom a first one of said user's reward point accounts for transferringinto a second one of said user's reward point accounts via a computernetwork; d) transferring the designated rewards from the first one ofsaid user's reward accounts into the second one of said user's rewardaccounts via the computer network; e) enabling a user to access a website for the reward server associated with the second reward account andredeem rewards from the second reward account.
 86. The method of claim85 further comprising the step of enabling the user to redeem rewardsthat originated in the second reward account in combination with rewardsthat were transferred from the first reward account into the secondreward account.
 87. The method of claim 85 wherein the rewards that aretransferred from the first reward account into the second reward accountare transferred at a predetermined rate of exchange.
 88. The method ofclaim 85 wherein the step of transferring the designated rewards fromthe first one of said user's reward accounts into the second one of saiduser's reward accounts via the computer network comprises the steps ofdecreasing the rewards in the first one of said user's reward accountsand increasing the rewards in the second one of said user's rewardaccounts.
 89. The method of claim 88 wherein consideration istransferred from the reward issuing entity associated with the first oneof said user's reward accounts to the reward issuing entity associatedwith the second one of said user's reward accounts.
 90. The method ofclaim 85 wherein rewards are redeemed from the second reward account foran item listed in an online catalog.
 91. A method of managing rewardscomprising the steps of: a) a user earning rewards from each of at leasttwo reward issuing entities, each of said reward issuing entitiestracking the user's earned rewards in a reward account associated withthe user stored on a rewards server associated with the reward issuingentity and interconnected to a computer network, b) designating at leastsome of said rewards from a first one of said user's reward accounts fortransferring into a second one of said user's reward accounts via thecomputer network, c) transferring via the computer network thedesignated rewards from the first one of said user's reward accountsinto the second one of said user's reward accounts, and d) enabling auser to access a web site for the reward server associated with thesecond reward account and redeem rewards from the second reward account.92. The method of claim 91 further comprising the step of enabling theuser to redeem rewards that originated in the second reward account incombination with rewards that were transferred from the first rewardaccount into the second reward account.
 93. The method of claim 91wherein the rewards that are transferred from the first reward accountinto the second reward account are transferred at a predetermined rateof exchange.
 94. The method of claim 91 wherein the step of transferringthe designated rewards from the first one of said user's reward accountsinto the second one of said user's reward accounts via the computernetwork comprises the steps of decreasing the rewards in the first oneof said user's reward accounts and increasing the rewards in the secondone of said user's reward accounts.
 95. The method of claim 91 whereinconsideration is transferred from the reward issuing entity associatedwith the first one of said user's reward accounts to the reward issuingentity associated with the second one of said user's reward accounts.96. The method of claim 91 wherein rewards are redeemed from the secondreward account for an item listed in an online catalog.
 97. A method ofmanaging rewards comprising the steps of: a) designating at least someof a plurality of rewards previously earned by a user and stored in afirst one of at least two reward accounts stored on a rewards serverassociated with a reward issuing entity for transferring into a secondone of said user's reward accounts via a computer network, b)transferring via the computer network the designated rewards from thefirst one of said user's reward accounts into the second one of saiduser's reward accounts, and c) enabling a user to access a web site forthe reward server computer associated with the second reward account andredeem rewards from the second reward account.
 98. The method of claim97 further comprising the step of enabling the user to redeem thatoriginated in the second reward account in combination with rewards thatwere transferred from the first reward account into the second rewardaccount.
 99. The method of claim 97 wherein the rewards that aretransferred from the first reward account into the second reward accountare transferred at a predetermined rate of exchange.
 100. The method ofclaim 97 wherein the step of transferring the designated rewards fromthe first one of said user's reward accounts into the second one of saiduser's reward accounts via the computer network comprises the steps ofdecreasing the rewards in the first one of said user's reward accountsand increasing the rewards in the second one of said user's rewardaccounts.
 101. The method of claim 97 wherein consideration istransferred from the reward issuing entity associated with the first oneof said user's reward accounts to the reward issuing entity associatedwith the second one of said user's reward accounts.
 102. The method ofclaim 97 wherein rewards are redeemed from the second reward account foran item listed in an online catalog.
 103. A method of operating a rewardaccumulation and redemption program comprising the steps of: a) enablinga user to establish a reward exchange account on a trading server thatis selectively interconnected over a network with a plurality of rewardservers that store a reward account maintained on behalf of the userthat track rewards earned by the user for transactions between the userand an associated reward issuing entity, b) enabling the user todesignate at least some of said earned rewards from one or more of saiduser's reward accounts for trading into the reward exchange account, c)the trading server accumulating the user's designated earned rewardsfrom said designated reward accounts into the reward exchange accountassociated with the user, and d) enabling the user to interact with thetrading server to redeem accumulated rewards from the user's rewardexchange account for an item selected by the user.
 104. The method ofclaim 103 wherein the step of enabling the user to interact with thetrading server to redeem accumulated rewards from the user's rewardexchange account for an item selected by the user comprises the stepsof: enabling the user to select an item for purchase from a merchantcomputer interconnected to the network, instructing that the merchantcomputer provide the item to the user in exchange for considerationreceived from said trading server, and the trading server reducing therewards in the user's reward exchange account in accordance with theconsideration provided to the merchant computer.
 105. The method ofclaim 104 in which the reduction in rewards in the user's rewardexchange account stored on the trading server is higher than the rewardsneeded to pay for the requested item.
 106. The method of claim 104 inwhich the purchase may be accomplished with a combination of rewardsfrom the user's reward exchange account stored on the trading server andother consideration.
 107. The method of claim 103 in which the rewardissuing entities are selected from the group comprising an airlinereward issuing entity, a credit and reward issuing entity, a hotelreward issuing entity, and a rental car reward issuing entity.
 108. Themethod of claim 103 in which the trading server directs a user'saccumulated rewards to a smart card associated with the user.
 109. Themethod of claim 108 further comprising the step of enabling the user tomake a purchase from a merchant directly by utilizing the smart card toexchange stored accumulated rewards with the merchant for a desireditem.
 110. The method of claim 103 in which the user's accumulatedrewards are used to pay for entertainment services.
 111. The method ofclaim 103 wherein the user is enabled to designate which rewards areredeemed from the reward accounts associated with the user.
 112. Themethod of claim 103 wherein the user is enabled to designate whichaccumulated rewards are redeemed from the user's reward exchangeaccount.
 113. The method of claim 103 further comprising the step of thetrading server accepting consideration from each reward issuing entityin exchange for the trading server accumulating the user's reward pointsfrom the reward account into the reward exchange account.
 114. Themethod of claim 113 in which the consideration provided to the tradingserver by the reward issuing entity has a value higher than the value ofthe user's earned rewards that are exchanged for said consideration.115. The method of claim 103 wherein the step of enabling the user tointeract with the trading server to redeem accumulated rewards from theuser's reward exchange account for an item selected by the usercomprises the steps of: enabling the user to select an item for purchaseby linking to an associated merchant computer for providing the item tothe user in exchange for consideration received from the trading server,and the trading server reducing the rewards in the user's rewardexchange account in accordance with the consideration provided to themerchant computer.
 116. The method of claim 103 wherein the step ofenabling the user to interact with the trading server to redeemaccumulated rewards from the user's reward exchange account for an itemselected by the user comprises the steps of: enabling the user to selectan item for purchase from a list of products available from a merchantcomputer provided to the user by the trading server, causing themerchant to provide the item to the user in exchange for considerationreceived from the trading server, and the trading server reducing therewards in the user's reward exchange account in accordance with theconsideration provided to the merchant computer.
 117. The method ofclaim 103 wherein the step of enabling the user to interact with thetrading server to redeem accumulated rewards from the user's rewardexchange account for an item selected by the user comprises the stepsof: enabling the user to select an item for purchase from a list ofavailable items provided by the trading server to the user over thenetwork, wherein the list of available items comprises identification ofitems available directly from the trading server, and the trading serverreducing the rewards in the user's reward exchange account in accordancewith the item selected by the user.
 118. The method of claim 103 whereinthe step of enabling the user to designate at least some of said earnedrewards from one or more of said user reward accounts for trading intothe reward exchange account is performed by enabling a user to interfacewith the trading server with a user computer interconnected to thenetwork.
 119. The method of claim 103 wherein the step of enabling theuser to interact with the trading server to redeem accumulated rewardsfrom the user's reward exchange account for an item selected by the useris performed by enabling a user to interface with the trading serverwith a user computer interconnected to the network.
 120. A rewardaccumulation and redemption system comprising: a trading serverselectively interconnected over a network to a plurality of rewardservers, each associated with a reward issuing entity and comprisingdata storage means for storing a plurality of reward accounts, eachassociated with a user and configured to track rewards earned by theassociated user for transactions between the user and the associatedreward point issuing entity; i. wherein the trading server comprisesdata storage means for storing a plurality of reward exchange accounts,each of said reward exchange accounts associated with a user; ii.wherein the trading server is configured to enable a user to designateat least some rewards from one or more of reward accounts associatedwith the user for trading into the reward exchange account associatedwith the user; iii. wherein the trading server further comprises: 1.means for accumulating the rewards designated by the user from each ofsaid reward accounts associated with the user into the reward exchangeaccount associated with the user, and
 2. means for allowing the user tointeract with the trading server to redeem accumulated rewards from thereward exchange account associated with the user for an item selected bythe user; whereby the reward accumulation and redemption system enablesthe selection of portions of available rewards from selected rewardaccounts for accumulation into the user's reward exchange account on thetrading server.
 121. A reward accumulation and redemption systemcomprising: a reward exchange computer selectively interconnected over anetwork to each of a plurality of reward servers, each reward serverassociated with a reward issuing entity and comprising a databasestoring a plurality of reward accounts, each reward account associatedwith a user and configured to store rewards earned by the user fortransactions between the user and the associated reward issuing entity;a reward exchange account database associated with the reward exchangecomputer, storing a plurality of reward exchange accounts, each rewardexchange account associated with a user; the reward exchange computeradapted to: enable a user to interact with the reward exchange computerand designate at least some rewards from one or more of said rewardaccounts associated with the user for exchanging into the rewardexchange account associated with the user; exchange the rewardsdesignated by the user into the reward exchange account associated withthe user; enable a user to interact with the reward exchange computer toredeem the rewards from the reward exchange account associated with theuser for an item selected by the user.
 122. A method of operating areward accumulation and redemption program comprising the steps of: a)establishing a reward exchange account on a trading server that isselectively interconnected over a network with a plurality of rewardservers that store a reward point maintained on behalf of a user thattrack rewards earned by the user for transactions between the user andan associated reward issuing entity, b) designating at least some ofsaid earned rewards from one or more of a user's reward accounts fortrading into the reward exchange account, c) accumulating the designatedearned rewards from said reward accounts into the reward exchangeaccount associated with the user, and d) enabling redemption ofaccumulated rewards from the user's reward exchange account for an itemselected by the user.
 123. The method of claim 122 wherein the step ofenabling redemption of accumulated rewards from the user's rewardexchange account for an item selected by the user comprises the stepsof: enabling the selection of an item for purchase from a merchantcomputer interconnected to the network, instructing that the merchantprovide the item to the user in exchange for consideration received fromsaid trading server, and reducing the rewards in the user's rewardexchange account in accordance with the consideration provided to themerchant computer.
 124. The method of claim 123 in which the reductionin rewards in the user's reward exchange account stored on the tradingserver is higher than the number of rewards needed to pay for therequested item.
 125. The method of claim 123 in which the purchase maybe accomplished with a combination of rewards from the user's rewardexchange account stored on the trading server and other consideration.126. The method of claim 122 in which the trading server directs auser's accumulated rewards to a smart card associated with the user.127. The method of claim 126 further comprising the step of enabling theuser to make a purchase from a merchant directly by utilizing the smartcard to exchange stored accumulated rewards with the merchant for adesired item.
 128. The method of claim 122 further comprising the stepof the enabling the user to designate which rewards are redeemed fromthe reward accounts associated with the user.
 129. The method of claim22 further comprising the step of enabling the user to designate whichaccumulated rewards are redeemed from the user's reward exchangeaccount.
 130. The method of claim 122 further comprising the step of thetrading server accepting consideration from each reward issuing entityin exchange for the trading server accumulating the user's rewards fromthe reward account into the reward exchange account.
 131. The method ofclaim 130 in which the consideration provided to the trading server bythe reward issuing entity has a value higher than the value of theuser's earned rewards that are exchanged for said consideration. 132.The method of claim 122 wherein the step of enabling redemption ofaccumulated rewards from the user's reward exchange account for an itemselected by the user comprises the steps of: enabling the user to selectan item for purchase by linking to an associated merchant computer forproviding the item to the user in exchange for consideration receivedfrom the trading server, and reducing the rewards in the user's rewardexchange account in accordance with the consideration provided to themerchant computer.
 133. The method of claim 122 wherein the step ofenabling redemption of accumulated points from the user's rewardexchange account for an item selected by the user comprises the stepsof: enabling the user to select an item for purchase from a list ofproducts available from a merchant computer provided to the user by thetrading server, causing the merchant to provide the item to the user inexchange for consideration received from the trading server, andreducing the rewards in the user's reward exchange account in accordancewith the consideration provided to the merchant computer.
 134. Themethod of claim 122 wherein the step of enabling redemption ofaccumulated rewards from the user's reward exchange account for an itemselected by the user comprises the steps of: enabling the user to selectan item for purchase from a list of available items provided by thetrading server to the user over the network, wherein the list ofavailable items comprises identification of items available directlyfrom the trading server, and reducing the rewards in the user's rewardexchange account in accordance with the item selected by the user. 135.The method of claim 122 wherein the step of designating at least some ofsaid earned rewards from one or more of said user reward accounts fortrading into the reward exchange account is performed by a userinterfacing with the trading server with a user computer interconnectedto the network.
 136. The method of claim 122 wherein the step ofenabling redemption of accumulated points from the user's rewardexchange account for an item selected by the user is performed by a userinterfacing with the trading server with a user computer interconnectedto the network.
 137. A reward accumulation and redemption systemcomprising: a trading server selectively interconnected over a networkto a plurality of reward servers, each associated with a reward issuingentity and comprising data storage means for storing a plurality ofreward accounts associated with a user and configured to track rewardsearned by the associated user for transactions between the user and theassociated reward point issuing entity, i. wherein the trading servercomprises data storage means for storing a plurality of reward exchangeaccounts, each of said reward exchange accounts associated with a user:ii. wherein the trading server is configured to enable designation of atleast some rewards from one or more of reward accounts associated withthe user for trading into the reward exchange account associated withthe user; iii. wherein the trading server further comprises:
 1. meansfor accumulating the rewards designated by the user from each of saidreward accounts associated with the user into the reward exchangeaccount associated with the user, and
 2. means for allowing interactionwith the trading server to redeem accumulated rewards from the rewardexchange account associated with the user for an item selected by theuser.
 138. A reward accumulation and redemption system comprising: areward exchange computer selectively interconnected over a network to aplurality of reward servers associated with a reward issuing entity andcomprising a database storing a plurality of reward accounts, eachreward account associated with a user and configured to store rewardsearned by the user for transactions between the user and the associatedreward issuing entity; a reward exchange account database associatedwith the reward exchange computer, storing a plurality of rewardexchange accounts, each reward exchange account associated with a user;the reward exchange computer comprising processing circuitry adapted to:enable designation of at least some rewards from one or more of saidreward accounts associated with the user for exchanging into the rewardexchange account associated with the user; exchange the designatedrewards into the reward exchange account associated with the user;enable interaction with the reward exchange computer to redeem therewards from the reward exchange account associated with the user for anitem selected by the user.
 139. A method for making an online purchaseover a networked computer system comprising the steps of: a. enabling auser to access a web site for an online reward trading system thatallows accumulation of rewards from a plurality of individual rewardaccounts for application towards online payment of a product, eachindividual reward account associated with an individual reward issuingentity and stored on a reward server associated with the reward issuingentity, and wherein each of said reward accounts tracks rewards earnedby the user for transactions between the user and the associated rewardissuing entity, and wherein each of the reward issuing entities enablesthe user to redeem rewards from the reward account associated with theuser for an item selected by the user; b. determining the number ofrewards a user has in a plurality of individual reward accounts; c.enabling the user to select via the web site a product to be purchasedfrom a plurality of available products; d. displaying to the user therewards available for redemption in at least one of the plurality ofindividual reward accounts; e. enabling the user to select via the website rewards from selected individual reward accounts to be accumulatedand applied to the purchase of the selected product; f. accumulating theselected rewards from the selected individual reward accounts forapplication in a purchase transaction for the selected product; and g.executing a purchase transaction for the selected product on behalf ofthe user by applying the accumulated rewards to the purchase price ofthe product.
 140. The method of claim 139 wherein the step of enablingthe user to select via the web site a product to be purchased from aplurality of available products comprises the steps of: a. the rewardtrading system generating an online catalog of a plurality of productsavailable for purchase; b. the reward trading system providing theonline catalog for display to the user via the web site; and c. enablingthe user to select a desired product from the online catalog displayedvia the web site.
 141. The method of claim 140 wherein an availableproduct is displayed in the online catalog along with the rewardsrequired to purchase the product.
 142. The method of claim 140 whereinan available product is displayed in the online catalog along with therewards that may be applied to purchase the product.
 143. The method ofclaim 142 wherein the purchase price exceeds the value of the rewardsthat may be applied to purchase the product, and wherein the user isenabled to provide additional payment to allow the reward trading systemto execute a purchase transaction for the selected product on behalf ofthe user.
 144. The method of claim 143 wherein the user is enabled toprovide additional payment with a credit card via the web site.
 145. Themethod of claim 139 wherein the step of the enabling the user to selectvia the web site a product to be purchased from a plurality of availableproducts comprises the steps of: a. the reward trading system providinglinks to associated merchant web sites that display products availablefor purchase; b. enabling the user to link to an associated merchant website; and c. enabling the user to select a desired product from amerchant web site.
 146. The method of claim 139 further comprising thestep of the reward trading system causing the selected individual rewardaccounts to deduct the rewards designated by the user and accumulated bythe reward trading system for the purchase transaction for the selectedproduct.
 147. The method of claim 146 wherein the reward trading systemaccepts consideration from a reward issuing entity in exchange for thededuction of rewards designated by the user from an associated rewardaccount.
 148. A method for accumulating rewards from a plurality ofindividual reward issuing entities into a common reward account over anetworked computer system comprising the steps of: a. enabling a user toaccess a web site for an online reward trading system that allowsaccumulation of rewards from a plurality of individual reward accounts,each individual reward account associated with an individual rewardissuing entity and stored on a reward server associated with the rewardissuing entity, and wherein each of said reward accounts tracks rewardsearned by the user for transactions between the user and the associatedreward issuing entity, and wherein each of the reward issuing entitiesenables the user to redeem rewards from the reward account associatedwith the user for an item selected by the user; b. determining therewards a user has in a plurality of individual reward accounts; c. theweb site displaying to the user the rewards available in the pluralityof individual reward accounts; d. enabling the user to interactivelyselect via the web site rewards from selected individual reward accountsto be accumulated; and e. accumulating the selected rewards from each ofthe selected individual reward accounts into a single reward account.149. A method for accumulating rewards from at least one individualreward issuing entity into a common reward account over a networkedcomputer system comprising the steps of: a. enabling a user to access aweb site for an online reward trading system that allows accumulation ofrewards from at least one individual reward account associated with anindividual reward issuing entity; b. determining, by accessing a rewardserver associated with the at least one individual reward issuingentity, the rewards a user has in the at least one individual rewardaccount associated with the at least one individual reward issuingentity; c. displaying to the user the rewards available in the at leastone individual reward account; d. enabling the user to interactivelyselect via the web site rewards from the at least one individual rewardaccount to be traded into a common reward account; and e. the rewardtrading system trading the designated rewards from the at least oneindividual reward account into the common reward account.
 150. Themethod of claim 149 wherein the reward trading system trades thedesignated rewards from the at least one individual reward account intothe common reward account at a predetermined rate of exchange.
 151. Themethod of claim 150 wherein the step of the reward trading systemtrading the designated rewards from the at least one individual rewardaccount into the common reward account at a predetermined rate ofexchange comprises directing that the reward server associated with theat least one individual reward issuing entity decrease the rewardaccount by the designated rewards; and that the reward trading systemincrease the common reward account by the corresponding rewards based onthe predetermined rate of exchange.
 152. The method of claim 151comprising the further step of accepting consideration from the rewardserver corresponding to the number of rewards decreased in the rewardaccount.
 153. The method of claim 152 wherein the consideration conveyedto the reward trading system is in the form of a monetary credit to anaccount between the reward trading system and the reward server. 154.The method of claim 151 wherein the common reward account represents acombined value of rewards traded into the common reward account. 155.The method of claim 151 wherein the rewards represent an earned valuewith a cash equivalent or negotiable worth.
 156. The method of claim 151further comprising the step of recording the trade of the designatedrewards from the at least one individual reward account into the commonreward account in a transaction log for a subsequent reconciliationprocess between the reward trading system and the reward server.
 157. Amethod for exchanging rewards from at least one individual rewardissuing entity into a common reward account over a networked computersystem comprising the steps of: a. enabling a user to access a web sitefor an online reward exchange system that allows exchanging of rewardsfrom at least one individual reward account associated with anindividual reward issuing entity; b. determining, by accessing acomputer associated with the at least one individual reward issuingentity, the rewards a user has in at least one individual reward accountassociated with the at least one individual reward issuing entity; c.displaying to the user the rewards available in the at least oneindividual reward account; d. enabling the user to select via the website rewards from the at least one individual reward account to beexchanged into a common reward account; and e. the reward trading systemexchanging the selected rewards from the at least one individual rewardaccount into rewards in the common reward account.
 158. The method ofclaim 157 wherein the reward exchange system exchanges the selectedrewards from the at least one individual reward account into the commonreward account at a predetermined rate of exchange.
 159. The method ofclaim 158 wherein the step of the reward exchange system exchanging theselected rewards from the at least one individual reward account intothe common reward account at a predetermined rate of exchange comprisesinstructing that the reward server associated with the at least oneindividual reward issuing entity decrease the reward account by theselected rewards; and that the reward exchange system increase thecommon reward account by the corresponding rewards based on thepredetermined rate of exchange.
 160. The method of claim 159 comprisingthe further step of accepting consideration from the reward servercorresponding to the rewards decreased in the reward account.
 161. Themethod of claim 160 wherein the consideration is in the form of amonetary credit to an account between the reward trading system and thereward server.
 162. The method of claim 159 wherein the common rewardaccount represents a combined value of rewards traded into the commonreward account.
 163. The method of claim 159 wherein the rewardsrepresent an earned value with a cash equivalent or negotiable worth.164. The method of claim 159 further comprising the step of recordingthe exchange of the designated rewards from the at least one individualreward account into the common reward account in a transaction log for asubsequent reconciliation process between the reward exchange system andthe reward server.
 165. A method for exchanging rewards from a firstreward account into a second reward account over a networked computersystem comprising the steps of: a. enabling a user to access a web sitefor an online reward exchange system that allows exchanging of rewardsfrom a first reward account to rewards in a second reward account; b.determining, by accessing a reward server associated with the firstreward account, the rewards a user has in the first reward account; c.displaying to the user the rewards available in the first rewardaccount; d. enabling the user to select via the web site rewards fromthe first reward account to be exchanged into the second reward account;and e. exchanging the selected rewards from the first reward accountinto rewards in the second reward account.
 166. The method of claim 165wherein the selected rewards are exchanged from the first reward accountinto the second reward account at a predetermined rate of exchange. 167.The method of claim 166 wherein the step of exchanging the selectedrewards from the first reward account into rewards in the second rewardaccount at a predetermined rate of exchange comprises the reward serverassociated with the first reward account decreasing the first rewardaccount by the designated rewards; and the reward exchange systemincreasing the second reward account by the corresponding rewards basedon the predetermined rate of exchange.
 168. The method of claim 167comprising the further step of the reward server conveying considerationto the reward exchange system corresponding to the rewards decreased inthe reward account.
 169. The method of claim 168 wherein theconsideration conveyed by the reward server to the reward pointsexchange system is in the form of a monetary credit to an accountbetween the reward points exchange system and the reward server. 170.The method of claim 167 wherein the second reward account represents acombined value of rewards exchanged into the second reward account. 171.The method of claim 167 wherein the rewards represent an earned valuewith a cash equivalent or negotiable worth.
 172. The method of claim 167further comprising the step of recording the exchange of the designatedrewards from the first reward account into the second reward account ina transaction log for a subsequent reconciliation process between thereward exchange system and the reward server.
 173. A reward exchangecomputer comprising: a. means to interconnect to a computer network forcommunication with a user computer and a plurality of individual rewardcomputers; b. means for allowing a user to access a web site; c. meansfor determining the rewards a user has in a first reward account; d.means for providing to a user computer a display of the rewardsavailable in the first reward account; e. means for allowing a user toselect rewards from the first reward account to be exchanged into asecond reward account; and f. means for exchanging the selected rewardsfrom the first reward account into rewards in the second reward account.174. The computer of claim 173 wherein the means for exchanging theselected rewards from the first reward account into rewards in thesecond reward account performs such exchanges at a predetermined rate ofexchange.
 175. The computer of claim 174 wherein the means forexchanging the selected rewards from the first reward account intorewards in the second reward account at a predetermined rate of exchangecomprises means for decreasing the first reward account by thedesignated rewards; and means for increasing the second reward accountby the corresponding rewards based on the predetermined rate ofexchange.
 176. The computer of claim 175 further comprising means forreceiving consideration corresponding to the rewards decreased in thefirst reward account.
 177. The computer of claim 175 wherein the secondreward account represents a combined value of rewards exchanged into thesecond reward account.
 178. The computer of claim 175 wherein therewards represent an earned value with a cash equivalent or negotiableworth.
 179. The computer of claim 175 further comprising means forrecording the exchange of the designated rewards from the first rewardaccount into the second reward account in a transaction log for asubsequent reconciliation process.
 180. A method of operating an auctionwherein accumulated rewards are redeemed for an item won in the auctioncomprising the steps of: a) enabling a user to establish a rewardexchange account on a trading server that is selectively interconnectedover a network with a plurality of reward servers that each store areward account maintained on behalf of the user and that track rewardsearned by the user for transactions between the user and an associatedreward issuing entity, b) enabling the user to designate at least someof said earned rewards from one or more of said user's reward accountsfor trading into the reward exchange account, c) the trading serveraccumulating the user's designated earned rewards from said designatedreward accounts into the reward exchange account associated with theuser, and d) enabling the user to interact with the trading server toredeem accumulated rewards from the user's reward exchange account foran item won in an auction.
 181. The method of claim 180 wherein the stepof enabling the user to interact with the trading server to redeemaccumulated rewards from the user's reward exchange account for an itemwon in an auction comprises the steps of: enabling the user to bid foran item from a merchant computer interconnected to the network,directing that the merchant computer provide the item to the user inexchange for consideration received from said trading server, and thatthe trading server reduce the rewards in the user's reward exchangeaccount in accordance with the consideration provided to the merchantcomputer.
 182. The method of claim 181 in which the reduction in rewardsin the user's reward exchange account stored on the trading server ishigher than rewards needed to pay for the requested item.
 183. Themethod of claim 181 in which the purchase may be accomplished with acombination of rewards from the user's reward exchange account stored onthe trading server and other consideration.
 184. The method of claim 183wherein said other consideration is provided by the user.
 185. Themethod of claim 180 wherein the step of enabling the user to interactwith the trading server to redeem accumulated rewards from the user'sreward exchange account for an item won in an auction comprises thesteps of: enabling the user to bid for an item being auctioned bylinking from the trading server over the network to an associatedmerchant computer for providing the item to the user in exchange forconsideration received from the trading server, and the trading serverreducing the rewards in the user's reward exchange account in accordancewith the consideration provided to the merchant computer.
 186. Themethod of claim 180 wherein the step of enabling the user to interactwith the trading server to redeem accumulated rewards from the user'sreward exchange account for an item won in an auction comprises thesteps of: enabling the user to bid for an item being auctioned from alist of products available from a merchant computer provided to the userby the trading server, directing that the merchant provide the item tothe user in exchange for consideration received from the trading server,and that the trading server reduce the rewards in the user's rewardexchange account in accordance with the consideration provided to themerchant computer.
 187. The method of claim 180 wherein the step ofenabling the user to interact with the trading server to redeemaccumulated rewards from the user's reward exchange account for an itemwon in an auction comprises the steps of: enabling the user to bid foran item being auctioned from a list of available items provided by thetrading server to the user over the network, wherein the list ofavailable items comprises identification of items available directlyfrom the trading server, and the trading server reducing the rewards inthe user's reward exchange account in accordance with the item selectedby the user.
 188. An auction and reward accumulation and redemptionsystem comprising: a. a trading server selectively interconnected over anetwork to each of a plurality of reward servers associated with areward issuing entity and comprising data storage means for storing aplurality of reward accounts associated with a user and configured totrack rewards earned by the associated user for transactions between theassociated user and the associated reward issuing entity, i. wherein thetrading server comprises data storage means for storing a plurality ofreward exchange accounts, each of said reward exchange accountsassociated with a user, ii. wherein the trading server further comprisesprocessing means adapted to enable a user to designate at least somerewards from one or more of reward accounts associated with the user fortrading into the reward exchange account associated with the user; iii.wherein the trading server further comprises:
 1. means for accumulatingthe rewards designated by the user from each of said reward accountsassociated with the user into the reward exchange account associatedwith the user, and
 2. means for allowing the user to interact with thetrading server to redeem accumulated rewards from the reward exchangeaccount associated with the user for an item won in an auction; wherebythe reward accumulation and redemption system enables the selection ofportions of available reward from selected reward accounts foraccumulation into the user's reward exchange account on the tradingserver.
 189. A method of operating a reward accumulation and redemptionprogram comprising the steps of: a) enabling a user to designate atleast some of a plurality of earned rewards from one or more of saiduser's reward accounts stored on one or more reward servers associatedwith a reward issuing entity for exchange into a reward exchange accounton a host computing device selectively interoperative with each rewardserver via a computing network, b) accumulating the designated rewardsfrom said reward accounts into the reward exchange account associatedwith the user, and c) redeeming accumulated rewards from the user'sreward exchange account for use as consideration in a transaction. 190.The method of claim 189 in which the transaction comprises an itemselected by the user in exchange for accumulated rewards from the user'sreward exchange account.
 191. The method of claim 189 wherein the stepof redeeming accumulated rewards from the user's reward exchange accountfor use as consideration in a transaction is executed in a transactionwith a merchant.
 192. The method of claim 191 wherein the transactionfurther comprises using a card associated with the user's rewardexchange account and presented by the user to the merchant to link tothe user's reward exchange account in order to perform the step ofredeeming accumulated rewards from the user's reward exchange account.193. The method of claim 192 wherein the card is a credit card.
 194. Themethod of claim 192 wherein the card is a debit card.
 195. The method ofclaim 192 wherein the card is a stored value card.
 196. The method ofclaim 192 wherein the card is a smart card.
 197. The method of claim 192further comprising the step of using a credit card infrastructure withthe card to link to the user's reward exchange account.
 198. The methodof claim 197 wherein the credit card infrastructure comprises the hostcomputing device with the reward exchange account.
 199. The method ofclaim 189 wherein rewards from the user's reward exchange account areused to completely pay for the item.
 200. The method of claim 189wherein rewards from the user's reward exchange account are used topartially pay for the item.
 201. The method of claim 200 wherein cash isalso used to partially pay for the item in addition to the rewards. 202.The method of claim 200 wherein credit is also used to partially pay forthe item in addition to the rewards.
 203. The method of claim 189further comprising the step of enabling the user to designate whichrewards are redeemed from the reward account associated with the user.204. The method of claim 189 further comprising the step of enabling theuser to designate which accumulated rewards are redeemed from the user'sreward exchange account.
 205. The method of claim 189 further comprisingthe step of accepting consideration from each reward issuing entity inexchange for the host computing device accumulating the user's rewardsfrom the reward account into the reward exchange account.
 206. Themethod of claim 189 wherein the step of enabling the user to designateat least some of a plurality of earned rewards from one or more of saiduser reward accounts for exchange into the reward exchange account isperformed by enabling a user to interface with the host computing devicewith a user-accessible computing device interconnected to the hostcomputing device.
 207. The method of claim 189 wherein the step ofredeeming accumulated rewards from the user's reward exchange accountfor use as consideration in a transaction is performed by enabling auser to interface with the host computing device with a user-accessiblecomputing device interconnected to the host computing device.
 208. Areward points accumulation and redemption system comprising: a hostcomputing device selectively interoperative with a plurality of rewardservers via a computer network, each reward server associated with areward issuing entity and comprising data storage means for storing aplurality of reward accounts associated with a user and configured totrack rewards earned by the associated user for transactions between theassociated user and the associated reward issuing entity; i. wherein thehost computing device comprises data storage means for storing aplurality of reward exchange accounts, each of said reward exchangeaccounts associated with a user; ii. wherein the host computing deviceis configured to enable designation of at least some rewards from one ormore of reward accounts associated with the user for exchange into thereward exchange account associated with the user; iii. wherein the hostcomputing device further comprises:
 1. means for accumulating therewards designated from each of said reward accounts associated with theuser into the reward exchange account associated with the user, and 2.means for allowing interaction with the host computing device to redeemaccumulated rewards from the reward exchange account associated with theuser for use as consideration in a transaction.
 209. The system of claim208 further comprising: means for a merchant to enter indicia from acard presented by a user, the card being associated with the user'sreward exchange account in order to redeem accumulated rewards from theuser's reward exchange account.
 210. The system of claim 208 wherein themeans for a merchant to enter indicia from a card presented by a usercomprises means for a merchant to enter indicia from a credit card. 211.The system of claim 208 wherein the means for a merchant to enterindicia from a card presented by a user comprises means for a merchantto enter indicia from a debit card.
 212. The system of claim 208 whereinthe means for a merchant to enter indicia from a card presented by auser comprises means for a merchant to enter indicia from a stored valuecard.
 213. The system of claim 208 wherein the means for a merchant toenter indicia from a card presented by a user comprises means for amerchant to enter indicia from a smart card.
 214. The system of claim208 wherein the means for a merchant to enter indicia from a cardpresented by a user is part of a credit card infrastructure.
 215. Thesystem of claim 214 wherein the host computing device is part of thecredit card infrastructure.
 216. The system of claim 208 furthercomprising means for interfacing with a user-accessible computing deviceinterconnected to the host computing device for designating at leastsome of the earned rewards from one or more of said user reward accountsfor exchange into the reward exchange account.
 217. The system of claim208 further comprising means for interfacing with a user-accessiblecomputing device interconnected to the host computing device forredeeming accumulated rewards from the user's reward exchange accountfor use as consideration in a transaction.
 218. The system of claim 208further comprising: means for interfacing with a user-accessiblecomputing device interconnected to the network for allowing a user toselect an item for purchase by linking from the host computing deviceover the network to an associated merchant computer for providing theitem to the user from the merchant computer in exchange forconsideration received from said host computing device a merchantcomputer for providing the item to the user in exchange forconsideration received from said host computing device, and means forreducing the rewards in the user's reward exchange account in accordancewith the consideration provided to the merchant computer.
 219. Thesystem of claim 208 further comprising: means for interfacing with auser-accessible computing device interconnected to the network forallowing a user to select an item for purchase from a list of availableitems from a merchant computer over the network for providing the itemto the user from the merchant computer in exchange for considerationreceived from said host computing device; a merchant computer forproviding the item to the user in exchange for consideration receivedfrom said host computing device, and means for reducing the rewards inthe user's reward exchange account in accordance with the considerationprovided to the merchant computer.
 220. The system of claim 208 furthercomprising means for interfacing with a user-accessible computing deviceinterconnected to the network for allowing a user to interface with thehost computing device and designate at least some of said earned rewardsfrom one or more of said user reward point accounts for exchange intothe reward exchange account.
 221. The system of claim 208 furthercomprising means for interfacing with a user-accessible computing deviceinterconnected to the network for allowing a user to interface with thehost computing device to redeem accumulated rewards from the user'sreward exchange account.
 222. A method of operating a rewardaccumulation and redemption program comprising the steps of: a) enablinga user to select an item for purchase from a merchant with a combinationof earned rewards obtained from a plurality of different reward accountsstored on different reward servers, b) enabling the user to designate atleast some of said earned rewards from the plurality of said user'sreward accounts for redemption for said item selected for purchase, ande) combining the user's designated earned rewards from each of saiddesignated reward accounts for redemption for said item selected forpurchase.
 223. The method of claim 222 wherein each of said rewardaccounts is linked to a card associated with the user, and wherein themerchant uses each card associated with each reward account designatedby the user for redemption for said item in order to access saiddesignated rewards to redeem for said purchased item.
 224. The method ofclaim 223 wherein at least one of said cards is a credit card.
 225. Themethod of claim 223 wherein at least one of said cards is a debit card.226. The method of claim 223 wherein at least one of said cards is astored value card.
 227. The method of claim 223 wherein at least one ofsaid cards is a smart card.
 228. The method of claim 223 in which thepurchase may be accomplished with a combination of designated rewardsfrom the user's reward accounts and other consideration.
 229. A methodof operating a reward accumulation and redemption program comprising thesteps of: a) enabling a user to select an item for purchase from amerchant with a combination of rewards previously earned and tracked intwo or more of a plurality of user reward accounts; b) enabling the userto selectively designate a predetermined number of said earned rewardsfrom each of at least two of said user's reward accounts for redemptionfor said item selected for purchase, and c) combining the user'sdesignated earned rewards for redemption for said item selected forpurchase.
 230. The method of claim 229 wherein the designated rewardsare combined for redemption at a predetermined rate of exchange. 231.The method of claim 229 in which the steps of enabling a user to selectan item for purchase from a merchant with a combination of earnedrewards, enabling the user to designate at least some of said earnedrewards from at least two of said user's reward accounts for redemptionfor said item selected for purchase, and combining the user's designatedearned rewards for redemption for said item selected for purchase, areall executed via a web site accessible over a networked computer systemby the user.
 232. The method of claim 231 wherein the step of enabling auser to select an item for purchase from a merchant with a combinationof earned rewards comprises the steps of: generating an online catalogof a plurality of products available for purchase; providing the onlinecatalog for display to the user via the web site; and enabling a user toselect a desired product from the online catalog displayed via the website.
 233. The method of claim 231 wherein an available product isdisplayed in the online catalog along with the rewards required topurchase the product.
 234. The method of claim 231 wherein an availableproduct is displayed in the online catalog along with the rewards thatmay be applied to purchase the product.
 235. The method of claim 234wherein the purchase price exceeds the rewards that may be applied topurchase the product, and wherein the user is enabled to provideadditional payment to enable a purchase transaction for the selectedproduct on behalf of the user.
 236. The method of claim 231 wherein thestep of enabling a user to select an item for purchase from a merchantwith a combination of earned rewards comprises the steps of: providinglinks to associated merchant web sites that display products availablefor purchase; enabling the user to link to an associated merchant website; and enabling the user to select an item for purchase from amerchant web site.
 237. A reward accumulation and redemption systemcomprising: a) means for enabling a user to select an item for purchasefrom a merchant with a combination of rewards previously earned andtracked in two or more of a plurality of user reward accounts; b) meansfor enabling the user to selectively designate a predetermined number ofsaid earned rewards from each of at least two of said user's rewardaccounts for redemption for said item selected for purchase, and e)means for combining the user's designated earned rewards for redemptionfor said item selected for purchase.
 238. The system of claim 237wherein the designated rewards are combined for redemption at apredetermined rate of exchange.
 239. The system of claim 237 in whichthe means for enabling a user to select an item for purchase from amerchant with a combination of earned rewards, the means for enablingthe user to selectively designate a predetermined number of said earnedrewards from each of at least two of said user's reward accounts forredemption for said item selected for purchase, and the means forcombining the user's designated earned rewards for redemption for saiditem selected for purchase, all comprise a computer executing a web siteaccessible over a networked computer system by the user.
 240. The systemof claim 239 wherein the means for enabling a user to select an item forpurchase from a merchant with a combination of earned rewards comprises:means for generating an online catalog of a plurality of productsavailable for purchase; means for providing the online catalog fordisplay to the user via the web site; and means for enabling the user toselect a desired product from the online catalog displayed via the website.
 241. The system of claim 240 wherein an available product isdisplayed in the online catalog along with the rewards required topurchase the product.
 242. The system of claim 241 wherein an availableproduct is displayed in the online catalog along with the rewards thatmay be applied to purchase the product.